Adityanath approves proposal to restructure Invest UP

Lucknow, Oct 13 (PTI) The first meeting of the Invest UP Governing Body, chaired by Chief Minister Yogi Adityanath, on Monday approved a proposal to restructure the investment promotion agency to make it more efficient, expert-driven, and investor-centric, the state government said in a statement.

Under the new structure, dedicated specialist cells will be established for various sectors, such as textiles, automobiles and electric mobility, chemicals, electronics, and services.

In addition, satellite investment promotion offices will be set up in Mumbai, Bengaluru, Hyderabad, Chennai, and New Delhi to enable direct engagement with domestic and global investors and attract greater investments to Uttar Pradesh.

The chief minister emphasised the need to ensure transparency, efficiency, and a result-oriented approach in the functioning of these offices.

Active engagement has been established with investors from Japan, South Korea, Germany, France, Russia, Taiwan, Singapore, and the Gulf countries through the Focus Country Desk, the statement said.

Adityanath directed officials to further strengthen Uttar Pradesh's industrial image on international platforms and that each country desk should focus on achieving concrete investment outcomes.

He also instructed UPEIDA, UPSIDA, BIDA (Bundelkhand Industrial Development Authority), and other industrial authorities to promote cluster-based development in key sectors, such as automobiles, pharmaceuticals, electronics, and leather.

It was further informed that under the 'China Plus One strategy, Uttar Pradesh is emerging as a preferred investment destination for multinational companies.

Currently, 219 companies, including major firms from Japan, Korea, and Taiwan, are actively pursuing investment opportunities in the state.

Adityanath also instructed officials to closely monitor these proposals and work in a coordinated manner to ensure their successful realisation.

Industrial Development Authorities currently possess over 25,000 acres of greenfield land and more than 6,300 acres of ready-to-move-in land available for investment.

Additionally, surveys have been completed for over 33,000 industrial plots.

A dedicated land bank cell will also be established, comprising two PCS officers at the sub-divisional magistrate/additional district magistrate level, the statement said.

Adityanath said that the new structure would empower Invest UP to function as a single, comprehensive investment facilitation agency, not only attracting investments but also ensuring effective monitoring and timely implementation of projects.

Uttar Pradesh has made remarkable strides in industrial development over the past few years. Nearly 4,000 new factories have been established in 2024-25, bringing the total number to around 27,000, according to the statement.

The chief minister remarked that this progress reflects the positive transformation of the state's industrial ecosystem under the successful implementation of Prime Minister Narendra Modi's "Reform, Perform, Transform" vision.

During the review of investment promotion and facilitation systems, it was reported that account managers have been assigned to 814 Fortune 1,000 companies. So far, 50 new MoUs have been signed, while discussions are going on with more than 280 companies.

On ease of doing business, Adityanath said industrial investment in Uttar Pradesh has evolved from being merely a policy commitment to a demonstrable model of on-ground delivery.

Processes related to application, approval, and incentive disbursal are being further streamlined through the upgraded Nivesh Mitra Portal 3.0, which will reduce processing time by 30 per cent and documentation requirements by 50 per cent, he added.

He also instructed that all eligible incentives be released promptly and without procedural delays.

The chief minister directed officials to establish direct communication with farmers and traders during land acquisition to ensure fair and transparent compensation.

He instructed officials to eliminate circle rate disparities and cancel unused industrial plots after the stipulated period, allowing them to be reallocated to new investors.

He further stressed the importance of strengthening infrastructure in regions under Industrial Development Authorities and directed that Divisional Commissioners and District Magistrates maintain regular communication with investors and entrepreneurs. PTI NAV BAL BAL